Ener1 (HEV), a development stage company in the business of lithium-ion batteries for plugin hybrid autos reported a narrow loss than in the year ago quarter with an EPS of -.08, compared to -.16. Revenues nearly doubled over the year ago quarter to $39K.
Some highlights from the quarter:
– received a purchase order to deliver 2 prototype plug-in hybrid lithium-ion battery packs in Feb 09 to a major European auto maker. HEV will also … Read the rest
Late last week, Ener1 (HEV) announced it has acquired an 83% interest in Enertech International, one of South Korea’s leading lithium ion battery cell producer. It’s intended to broaden Ener1’s production capabilities to take advantage of the global shift to more fuel efficient automobiles.
“Enertech is one of the largest lithium-ion battery producers in Korea, behind only LG Chemical and Samsung,” said Ener1 CEO Charles Gassenheimer. “This acquisition gives us immediate scale and volume … Read the rest
While the rest of the green energy market crumbles along with the general market, there are a few green stocks quietly showing strong technical action. One such company is Ener1 (HEV), the maker of lithium batteries for electric cars. A few days ago it broke out of a double bottom base and is now forming a handle as volume levels indicate good demand for the stock. A breakout from the handle above 8.50 and a … Read the rest
Citron Research just released a report on Ener1 (HEV) declaring that the company “has no path to profitability and no evidence of widespread commercial acceptance of their product.”
Citron goes on to say that this “corporate shell” company has a history of failed businesses based on exaggerated promises which include everything from video games to visualization software to set top boxes.
They just got into the lithium battery business by purchasing Delphi’s years … Read the rest
Jim Cramer said on Mad Money that Ener1 (HEV) is one of his first favorite speculations. He said “”That’s one of my favorite speculations. I think that you want to be in that. It’s a lithium battery company. I also like Sociedad Quimica (SQM) as an even better play.”
Developing smaller lithium batteries than can hold increasingly longer charges while remaining safe will be a big barrier to wide spread adoption of electric plug in … Read the rest